TARC ACCA 2005

tips june 2005 source FTC S'pore

exam tips
1) source acca communities ~~ACCA Malaysia

Paper 2.1 - Information Systems
Lecturer - Mr Edwin Ee

- IS Management : outsourcing
- IS Management : Legacy systems
- IS Management : make versus buy
- IS management : cost centre / profit centre / corporate overhead
- Feasibility Study : financial techniques – ROI, payback, DCF
- Feasibility Study : economic / technical / social / operational
feasibility
- Project management : project quality plan / role of project manager
- Project management : risk management
- Project management : network diagrams / gantt charts / project mgnt
software
- SDLC : structured approach / waterfall vs spiral
- Structured Techniques : ELH / Case Tools / 4th GL / Prototyping
- Maintenance : Change control procedures
- Quality assurance : what quality steps ? / V-model
- Quality assurance : adoption of standards
- Systems evaluation : metrics : methods for measuring system
performance
- Computer security : threats / types of controls
- Computer security : disaster recovery planning
- Computer security : Data Protection Act

Paper 2.4 - Financial Management & Control
Lecturer - Mr Nicholas Blain/Mr Saminathan/Ms Lee Pei Yee

Q1 Case study
Investment appraisal
- Relevant and non-relevant costs
- Lease or buy
- Advantages of each appraisal methods
- Discuss other non-financial factors

Q2 - Q4
Management accounting
- Budgets, forecasting techniques
- Performance measurement
- Activity based costing

Financial management
- Objectives of stakeholders
- Raising finances: debt vs equity
- Rights issue
- Share valuation
- Factoring



Paper 2.5 - Financial Reporting
Lecturer - Mr Roy Goh/Mr Saminathan

1. Consolidated Balance sheet with fair value adjustments and other
interco. adjustments.FRS 31 Joint ventures could be included with
proportional consolidation.
2. Published accounts - Income statement & balance sheet with
adjustments on - leasing, revaluation of assets, deferred
tax,provisions & financial instruments.
3. FRS 18 -revenue recognition issues together with other substance
over form issues.
4. FRS 7 - Cash flow statement - possibly direct method with ratios
included.
5. Mini std. questions
- FRS 8 & FRS 35/FRS 105
- FRS 33 - EPS
- FRS 12 - deferred tax



Paper 2.6 - Audit and Internal Review
Lecturer - Ms Helena Johnson

Alan Lewin is a new examiner. He has not been responsible for any of
the 2.6 papers to date and as a result it is impossible to identify
the topics that will be examined in June.

I suggest you focus your revision on the key syllabus areas:

(a) Professional ethics especially the specific guidance in respect
of independence
(b) The use of the audit risk model by external auditors
(c) The role of the internal auditors in risk management and
corporate governance
(d) The control objectives and internal control procedures you would
expect to find in the sales, purchases and payroll systems.
(e) The substantive tests used to gather audit evidence in respect of
the five balance sheet assertions, especially in relation to
inventory, accounts receivable and accounts payable.

Corporate governance is a particularly important topic as Alan Lewin
has recently moved it from the 3.1 to the 2.6 syllabus.

Other topics to consider include:

(a) The concept of materiality
(b) The use of analytical procedures during the planning, evidence
gathering and review stages of the audit process
(c) The use of computers to increase efficiency
(d) Engagement letters, management letters and management
representation letters
(e) External audit reports
(f) The responsibilities of auditors and directors in respect of
events after the balance sheet date, the going concern assumption,
fraud, error and non compliance with laws and regulations
(g) The advantages and disadvantages of outsourcing the internal
audit function

Remember Alan Lewin is very keen to examine your understanding of the
audit process rather than simply your knowledge. Therefore you must
be prepared to handle practical scenario based questions.

posted by Unknown @ 5:05 PM